Wednesday, July 7th, 2021 | 0
The North Dakota Department of Workforce Safety and Insurance has announced a dividend of $ 93 million, according to a report from prariepublic.org.
Bryan Klipfel
Occupational Safety and Insurance Director Bryan Klipfel reportedly told the outlet that the Workers’ Compensation Fund has $ 2.2 billion, largely due to strong investment returns over the past few years.
Klipfel said the fund’s strong position enabled it to explain the dividend, which comes in the form of a 50% premium reduction.
Klipfel also said the claim frequency decreased by about 10% during the pandemic, with between July 1, 2020 and March 30, 2020.
North Dakota is one of four monopoly states that do not allow companies to take out workers’ compensation insurance from commercial transportation companies. Employers in Ohio, Washington, and Wyoming must also get coverage through state comp funds.
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